Logo
Cardano Ecosystem

Elevenews

05/20/2022

·

787 views


Exploring the Possibility of a 40% Price Upswing for Cardano

Cardano’s (ADA) price is currently in a position favorable for the bulls and more short-term traders as there is a possibility of a rally in the cards for ADA. It is expected that a minor retracement will follow which could...

Exploring the Possibility of a 40% Price Upswing for Cardano

Cardano’s (ADA) price is currently in a position favorable for the bulls and more short-term traders as there is a possibility of a rally in the cards for ADA. It is expected that a minor retracement will follow which could allow interested buyers the chance to accumulate ADA at a much lower price before catalyzing an explosive uptrend.

Currently, Cardano’s price set a range between $0.487 and $0.614, as it rallied by 25% between May 14 and 16. Since then, ADA has not made a move to sweep either of the ranges.

ADA-USDT 4-hour chartSource:FXStreet

ADA investors can also expect a sweep of the $0.487 level, which could be the first indication of accumulation. This will be confirmed after a recovery above this level, which is where traders can move into a long position.

After this recovery, the price will see an explosive move to around $0.614, where a possible local top can form. It could also be possible for ADA to extend to the next hurdle at $0.677.

When looking at the big picture, this move could amount to a 39% gain.

The Ethereum-killer is currently in the 8th position on CoinMarketCap’s list in terms of market cap, right behind Binance USD (BUSD) and in front of Solana (SOL).

ADA’s price currently stands at $0.5308, or 0.00001756 BTC, after a 3.48% increase over the last 24 hours.

Cardano also saw a 24-hour trading volume of around $839,917,627 which is down by 19.72% from yesterday’s figures.

News Source

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2022/05/20/explori...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

677 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)